Chevron Phillips Chemical

{{Short description|American chemical company jointly owned by Chevron and Phillips}}

{{more citations needed|date=May 2016}}

{{Infobox company

| name = Chevron Phillips Chemical

| logo = CPChem Logo.png

| logo_caption = Logo for Chevron Phillips Chemical

| type = Joint venture

| foundation = {{start date and age|2000}}

| location = The Woodlands, Texas, United States

| area_served =

| key_people = Steven Prusak (CEO)

| industry = Petrochemical

| products = {{ubl|Aromatics|Drilling Specialties|Normal Alpha Olefins|Olefins|Polyalphaoelfins|Polyethylene|Polyethylene Pipe|Specialty Chemicals}}

| production =

| services =

| revenue = {{profit}} $14.18 billion (2023){{cite web |url=https://www.cpchem.com/who-we-are/financials |title=Financial Information |accessdate=2023-06-11 |publisher=cpchem.com}}

| net_income = {{decrease}} $1.662 billion (2023){{cite web |url=https://www.cpchem.com/who-we-are/financials |title=Financial Information |accessdate=2023-06-11 |publisher=cpchem.com}}

| assets = {{increase}} $17 billion (2022){{cite web |url=https://www.cpchem.com/sites/default/files/2022-08/2021%20Sustainability%20Report%20-%20Final.pdf |title=2022 Sustainability Report |accessdate=2023-06-11 |publisher=cpchem.com}}

| equity = {{increase}} $13.569 billion (2023){{cite web |url=https://www.cpchem.com/who-we-are/financials |title=Financial Information |accessdate=2023-06-11 |publisher=cpchem.com}}

| owners = {{ubl|Chevron (50%)|Phillips 66 (50%)}}

| num_employees = 5,000 (August 2022){{cite web |url=https://www.cpchem.com/sites/default/files/2022-08/2021%20Sustainability%20Report%20-%20Final.pdf |title=2022 Sustainability Report |accessdate=2023-06-11 |publisher=cpchem.com}}

| parent =

| divisions =

| subsid =

| homepage = {{url|cpchem.com}}

| footnotes =

| intl =

}}

Chevron Phillips Chemical (CPChem) is a petrochemical company that is a 50/50 joint venture between Chevron Corporation and Phillips 66. The company was formed July 1, 2000, by merging the chemicals operations of both Chevron Corporation and Phillips Petroleum Company.{{Cite book |last=AlMa'adeed |first=Mariam Al-Ali |title=Polyolefin Compounds and Materials: Fundamentals and Industrial Applications |last2=Krupa |first2=Igor |publisher=Springer |year=2015 |isbn=978-3-319-25982-6 |pages=37 |language=en}} As equally-owned company, it is governed by a board of directors composed of three members from each of the parent companies. The company was actually named in a coin toss to determine which parent company name would be first and which would be last.{{cite news|date=2000-04-18|title=Coin toss decides company name|work=Lubbock Avalanche-Journal|publisher=The Lubbock Avalanche-Journal|url=http://www.lubbockonline.com/stories/041800/bus_041800085.shtml|url-status=live|accessdate=2020-12-04|archive-url=https://web.archive.org/web/20120303185804/http://lubbockonline.com/stories/041800/bus_041800085.shtml|archive-date=2012-03-03}}

Chevron Phillips Chemical is headquartered in The Woodlands, Texas, a northern suburb of Houston, and is a major producer of ethylene, propylene, polyethylene, Alpha-olefins, Polyalphaolefins, aromatic compounds and a range of specialty chemicals. The company's chemical products are used in thousands of applications including squeezable condiment bottles and shrink-wrapped meat.{{Cite book |last=Slaton |first=Hunter |title=Vault Guide to the Top Manufacturing Employers |publisher=Vault Inc. |year=2007 |isbn=978-1-58131-405-2 |pages=98 |language=en}}